Air Liquide takes equity stake in FirstElement Fuel, Inc., a leading retail hydrogen station operator in California. This investment complements Air Liquide’s recently announced long-term hydrogen supply agreement with FEF. Through these agreements, Air Liquide and FEF continue to contribute to the growth of the hydrogen network in California which currently has the largest number of Fuel Cell Electric Vehicles on the road.
Air Liquide Hydrogen Energy U.S. LLC (“Air Liquide”) announces a $12 million equity investment in FirstElement Fuel, Inc. (“FEF”), a market leader in developing, owning and operating hydrogen refueling stations in California. This investment will help enable the ramp-up and deployment of hydrogen fueling infrastructure in California, including the further expansion of FEF’s “True Zero” branded retail hydrogen station network.
California currently has the largest number of Fuel Cell Electric Vehicles (FCEVs) and the state’s initial retail hydrogen station network ranks as one of the largest in the world. This investment combined with the long-term supply agreement Air Liquide recently announced with FEF will help ensure robust and reliable fueling to accommodate the 40,000 FCEVs expected to be deployed in California by 2022.
To sustain a robust hydrogen energy infrastructure deployment requires targeted investment. These agreements further demonstrate Air Liquide’s commitment to the development of hydrogen for mobility throughout the entire supply chain, and complement existing collaborations with Toyota, Honda, Mitsui and others.
Susan Ellerbusch, Chairman of Air Liquide Hydrogen Energy U.S. LLC said: “With our investment and collaboration with FirstElement Fuel and the recent announcement of our new hydrogen production facility to be constructed in the western U.S., Air Liquide further commits as a leader in the energy transition and the development of hydrogen for mobility throughout the entire supply chain. These investments build on existing collaborations with FEF, Toyota, Honda, Mitsui and others to help develop a robust and sustainable hydrogen fueling infrastructure in the U.S. and support the deployment of zero emission hydrogen Fuel Cell Electric Vehicles.”
Air Liquide | http://www.airliquide.com
FirstElement Fuel | http://www.firstelementfuel.com